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1、Internationaltrade國際貿(mào)易istheexchangeofgoodsorservicesbetweenmanycountriesImport進(jìn)口isthepurchaseofagoodorservicemadeoverseasExport出口isthesaleofagoodorservicemadeathomeAbsoluteadvantage絕對優(yōu)勢Eachcountrywillbenefitfromspecializationinthosecommoditiesinwhichithasanabsoluteadvantage,(i.e.,beingabletoproduc
2、eatalowerrealcostthananothercountry),exportingthemandimportingothercommoditieswhichitproducesatahigherrealcostthananothercountryComparativeadvantageTradewillbenefitbothnationsprovidedonlythattheirrelativecosts,thatis,theratiosoftheirrealcostsmeasuredbylabor-houroranothercommodity,aredifferentfortw
3、oormorecommodities.Inshort,tradedependsondifferencesincomparativecostoropportunitycost,andonenationcanprofitablytradewithanothereventhoughitsrealcostsarehigherorlowerineverycommodity.BenefitsofInternationalTradeWidermarketwiththeincreasingnumberoftradingpartnersGrowthofeconomyCheapergoodsGreatvari
4、etywithgoodscomingfrommorecountriesReasonsfortraderestrictionsPurepoliticalreasonsThereisaninfantindustryargumentwhichmaintainsthatanewindustryneedstobeprotecteduntilthelaborforceistrained,theproductiontechniquesaremasteredandtheoperationbecomeslargeenoughtoenjoytheeconomiesofscaleandtobeabletocom
5、peteinthemarket.Manycountrieswantadiversifiedeconomytobelessdependentonforeigncountriesbotheconomicallyandpolitically.Inaddition,itiscrucialforcountriestoprotecttheirvitalindustries,whicharestrategicallyrelatedtostabilityandeconomicdevelopment.Domesticjobsneedtobeprotectedfromcheapforeignlabor.Imp
6、osingrestrictionsonimportisaimingtomaintainabalanceoftradeandbalanceofpayments.Protectionisneededwhenforeignfirmsreceivesubsidiesandgovernmentbenefitsandsellgoodsabroadatbelow-costpricetocaptureamarket.Tariffisadutyorfeeleviedongoodsbeingimportedintoacountry.Anti-dumpingdutyiscollectedwhenimportin
7、gcountrybelievesthatthereisadumping(onecountrysellsthegoodsinanothercountryatalowerprice,whichisbelowdomesticsellingprice,worldmarketprice,orproductioncost.)Foreignexchangecontrolmeansvariousformsofrestrictionimp